Lonmin Chief Keeping It Simple
New Lonmin CEO Ian Farmer will not say whether the company went into panic mode when Xstrata launched its hostile takeover bid earlier. For full story, click here
Articles Tagged "bid"
Platinum continues bearish trend
The continuing rise of the greenback coupled with auto industry woes has hit platinum where it hurts the most- market prices. These two factors are causing platinum to continue on a bearish trend.
Platinum off to a Weak Start
In Tokyo, Spot platinum fell more than three percent on Monday on renewed concerns about demand for the metal. The cash price stood at $1,421.50/$1,441.50 per ounce, compared to late New York levels of $1,474.50/1,494.50.
Rival bidders exploring ways to challenge Xstrata’s bid for Lonmin
Rival bidders like Impala Platinum are seeking ways to challenge Xstrata’s takeover bid for £5bn UK-listed Lonmin. A top institutional investor said: It seems clear that Lonmin will be sold – if not to Xstrata then somebody else. Click here for full story.
Impala rose on speculation about bid from BHP Bilton
Shares of Impala Platinum, world’s second-biggest platinum producer, surged in Johannesburg trading on speculation that BHP Bilton could make a bid to acquire the company. Garth Mackenzie, head of derivatives trading at BoE Stockbrokers in Johannesburg, said: Speculation in the market that BHP may be planning a bid for Impala is moving this stock. Click here [...]
Xstrata to raise 5 billion pounds for Lonmin bid
As per a report by Telegraph, Xstrata is planning to raise more than 5 billion pounds for its hostile $10 billion bid for Lonmin. For full news, click here
Lonmin to contest Xstrata bid
South Africa-focused platinum producer Lonmin reported on Thursday that it would vigorously contest $10 billion bid approach from Xstrata, but gave little indication on the strategies it plans to undertake in its defense. For full news, click here
